Chief Investment Officer
As Chief Investment Officer for Xerox, Carol McFate manages an impressive list of responsibilities. She oversees the investment of Xerox retirement assets in North America, including Canada, for both defined benefit and defined contribution plans, and she recently became a trustee for the Xerox Limited U.K. Pension Scheme. “This is a pension plan, although the nomenclature in the UK is a bit different,” McFate explains. “It’s a relatively new responsibility and a rather interesting one, as the governance and management of pension assets are structured differently than in the U.S.”
McFate works with a team of seven, six more than she had when she arrived at Xerox to reverse an investment management outsourcing executed in 2001-2002 when the company was facing financial challenges. These retirement assets were moved in 2002 to a third-party asset manager who shared fiduciary responsibility with an internal investment committee.
Earlier this fall, we sat down to chat about her professional journey thus far and what’s coming up next on the horizon. Continue reading
Conventional wisdom suggests that the long-term is the clear path to success when it comes to investing and business strategy. However, the authors of a new study published by McKinsey demonstrate that short-term thinking is crippling the long-term success of firms. According to the study, managing for the next earnings call and making decisions based on pressure from Wall Street analysts will hinder long-term revenue and earnings growth. Or will companies that restrict short term thinking merely restrict competition and enable established firms to hide behind stasis? Continue reading
A recent study by a global executive search firm found that people, not technology, are the most important asset to global economic growth. Human capital represents a $1,215 trillion gain for the global economy, while “physical” capital (technology, real estate, and inventory) represents $521 trillion. These results may appear unsurprising yet need to be articulated at a time when technology is touted as a means to gain productivity and artificial intelligence (AI) seems poised to eliminate many more jobs. Continue reading
William F ‘Ted’ Truscott
Columbia Threadneedle Investments
As the CEO of Columbia Threadneedle Investments, the asset management subsidiary of Ameriprise Financial, Ted Truscott is on the move constantly, and he’s fine with that. Truscott is responsible for overseeing the company’s retail, institutional and owned asset portfolios, including the Columbia and Threadneedle families of mutual funds, collective funds, separate accounts, alternative investments and ETFs. He is also a member of the Ameriprise Executive Leadership Team.
Columbia Threadneedle’s assets under management total approximately $454 billion and its workforce numbers some 2,200 people worldwide, including approximately 560 in Boston, over 600 in London, and nearly 700 in Minneapolis. Other employees operate from a variety of offices in key markets around the world. It’s not surprising, therefore, that Truscott frequently finds himself traveling to Europe, the Middle East and Asia, all of which he finds invigorating. Continue reading
The first quarter of 2017 is just coming to a close but already gender diversity on boards seems to be a popular topic, cropping up in several studies and news articles. Here are some headlines that have caught my eye over the last few months: Continue reading